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STOCK-BASED COMPENSATION (Tables)
9 Months Ended
Sep. 30, 2022
Share-Based Payment Arrangement [Abstract]  
SCHEDULE OF STOCK-BASED COMPENSATION

Stock-based compensation, including restricted stock awards, stock options and warrants is included in the unaudited condensed consolidated statement of operations as follows:

 

                     
   Three Months Ended September 30,   Nine Months Ended September 30, 
   2022   2021   2022   2021 
Research and development  $5,269   $18,786   $15,069   $62,980 
Sales and marketing   6,001    60,771    19,816    184,853 
General and administrative   320,911    3,580,935    888,959    6,750,153 
Total  $332,181   $3,660,492   $923,844   $6,997,986 
SCHEDULE OF STOCK-BASED COMPENSATION, STOCK OPTIONS, ACTIVITY

The following table reflects the stock option activity:

 

    Number of Shares   Weighted Average
Exercise Price
  

Contractual Life

(Years)

 
Outstanding at December 31, 2021    1,338,675   $5.14    8.26 
Granted    173,500    0.97      
Forfeitures    (726,753)   3.14      
Outstanding at September 30, 2022    785,422   $6.10    7.97 
SCHEDULE OF FUTURE STOCK OPTION COMPENSATION EXPENSE

The Company uses the following inputs when valuing stock-based awards.

 

   For the nine months ended
September 30, 2022
 
Company Common Stock as of Grant Date May 6, 2022   0.97 
Time to Maturity   6 
Dividend   - 
Annual risk-free interest rate   2.04%
Annualized volatility   130.23%
Black-Scholes Value   0.87 
SCHEDULE OF STOCK-BASED COMPENSATION, RESTRICTED STOCK

   Number of
Shares
   Weighted Average
Grant Price
 
Outstanding at December 31, 2021   450,000   $2.48 
Granted   542,248    1.06 
Vested   (221,424)   1.29 
Outstanding at September 30, 2022   770,824   $1.89